Increased production of RTA furniture increases demand for decorative laminates in Eastern Europe’s Asia Pacific region | Ohio

Cleveland, June 29, 2021 / PRNewswire /-A new Friedonia Group analysis predicts that global demand for furniture laminates will grow 3.0% annually to reach 5.4 billion square meters. $ 25.6 billion In 2024, the increase in production of mainly prefabricated (RTA) furniture was spurred.

But Western EuropeIKEA’s hometown, is still the second largest regional market due to its large prefabricated (RTA) furniture industry, and its share of the global furniture laminate market begins in this region. As it grows, it will continue to decline until 2024.Mature, RTA furniture producers shift production to lower manufacturing cost countries Eastern Europe (in particular Poland) And that Asia Pacific region.

Asia Pacific By 2024, 66% of new global furniture laminate demand

The world’s largest market for furniture laminates Asia Pacific The region is expected to achieve above average profits by 2024 due to increased production of prefabricated (RTA) furniture. China, The largest global producer of this product. The production of RTA furniture is facilitated by the continued growth of building construction activities in the region and strong export opportunities.Southeast Asian countries like Malaysia And Vietnam – Significant RTA furniture makers also – contribute to profits.

Eastern Europe continues to be an attractive destination for Western European RTA furniture producers

Eastern Europe Inspired by the growth of local economic production, manufacturing activities, per capita income and building construction activities, it will become one of the fastest growing regional markets for furniture laminates until 2024 and will be used on furniture surfaces. Demand for decorative laminates will increase.

The production capacity of the region is considerable and is growing as Western European RTA furniture makers open factories in the region to take advantage of low production costs. PolandFor example, it is one of the largest suppliers of RTA furniture to IKEA. Other RTA furniture producers in the area are: Romania, Russia,and Slovakia..

Want to know more?

Global furniture laminate Now available from the Freedonia Group. This survey covers the global furniture laminating industry.

  • Low pressure laminate (saturated paper, low weight paper, thermoplastic film – vinyl, polyester, polypropylene, decorative foil, etc.)
  • High pressure laminate

Historical data is provided in 2009, 2014 and 2019 with forecasts for 2024 and 2029. Demand for furniture laminates by type, region and major domestic market is offered in US dollars and square meters.

About Friedonia Group -Friedonia Group, MarketResearch.comIs the premier international industrial research company, providing clients with product analysis, market forecasts, industry trends, and market share information. From a single consulting firm to a global conglomerate, our analysts provide companies with fair and reliable industry market research and analysis to help them make important business decisions. More than 100 studies are published each year, supporting more than 90% of Fortune 500 companies.Find ready-made research in https://www.freedoniagroup.com/ Or contact us for custom research: +1440.842.2400.

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Source Friedonia Group

Increased production of RTA furniture increases demand for decorative laminates in Eastern Europe’s Asia Pacific region | Ohio

Source link Increased production of RTA furniture increases demand for decorative laminates in Eastern Europe’s Asia Pacific region | Ohio

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